Public Employees Retirement System of Ohio lowered its position in Credit Acceptance Corp. (NASDAQ:CACC) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,017 shares of the credit services provider’s stock after selling 256 shares during the period. Public Employees Retirement System of Ohio’s holdings in Credit Acceptance were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CACC. Epoch Investment Partners Inc. purchased a new position in shares of Credit Acceptance in the 2nd quarter worth approximately $25,211,000. BlackRock Inc. boosted its stake in Credit Acceptance by 4.4% in the 2nd quarter. BlackRock Inc. now owns 509,990 shares of the credit services provider’s stock worth $180,231,000 after purchasing an additional 21,628 shares in the last quarter. SG Capital Management LLC acquired a new stake in Credit Acceptance in the 2nd quarter worth approximately $7,011,000. Janus Henderson Group PLC boosted its stake in Credit Acceptance by 142.2% in the 2nd quarter. Janus Henderson Group PLC now owns 29,154 shares of the credit services provider’s stock worth $10,303,000 after purchasing an additional 17,115 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Credit Acceptance by 71.3% in the 2nd quarter. Swiss National Bank now owns 20,177 shares of the credit services provider’s stock worth $7,131,000 after purchasing an additional 8,400 shares in the last quarter. 67.58% of the stock is currently owned by hedge funds and other institutional investors.

CACC stock opened at $414.44 on Friday. The company has a market capitalization of $8.46 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.81 and a beta of 0.56. The company has a quick ratio of 33.69, a current ratio of 33.69 and a debt-to-equity ratio of 2.03. Credit Acceptance Corp. has a 52 week low of $277.20 and a 52 week high of $467.26.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Tuesday, July 31st. The credit services provider reported $6.95 EPS for the quarter, topping analysts’ consensus estimates of $6.44 by $0.51. The company had revenue of $315.40 million during the quarter, compared to analysts’ expectations of $303.55 million. Credit Acceptance had a net margin of 46.43% and a return on equity of 28.97%. As a group, equities research analysts forecast that Credit Acceptance Corp. will post 27.36 EPS for the current fiscal year.

In other Credit Acceptance news, CFO Kenneth Booth sold 2,000 shares of Credit Acceptance stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $425.00, for a total transaction of $850,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles A. Pearce sold 1,000 shares of Credit Acceptance stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $426.93, for a total transaction of $426,930.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,500 shares of company stock valued at $34,100,502. Company insiders own 5.40% of the company’s stock.

A number of analysts recently commented on the stock. BidaskClub upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Susquehanna Bancshares lifted their target price on shares of Credit Acceptance from $350.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. BMO Capital Markets lifted their target price on shares of Credit Acceptance from $305.00 to $312.00 and gave the stock a “market perform” rating in a research note on Thursday, August 2nd. Compass Point upgraded shares of Credit Acceptance from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 1st. Finally, JMP Securities lifted their target price on shares of Credit Acceptance from $260.00 to $350.00 and gave the stock a “market underperform” rating in a research note on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Credit Acceptance presently has a consensus rating of “Hold” and an average price target of $336.25.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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